Anthropic, the AI startup, is expected to go public in October with a valuation of $2 trillion or more, according to several of its investors. This would make it the largest initial public offering in history, surpassing the previous record held by SpaceX. The company's backers believe its rapidly rising revenue could more than double its current valuation in a planned autumn listing. The anticipated valuation would unlock billions of dollars in gains for the five-year-old company's early investors, though it would also test public markets growing more cautious about the AI boom. Source: arstechnica
Investors expect Anthropic's annualized revenue to reach between $100 billion and $120 billion by the end of 2026, using the startup’s preferred measure, which infers full-year sales from recent performance. That would represent more than 10 times the revenue of 2026. One investor in the group noted that if the company is growing 800 percent a year, it would trade at 30 times revenue, making it a $3 trillion company. The company lacks a publicly listed US peer for benchmarking, but AI beneficiaries like Palantir and Nebius have traded at around 55 times revenue this year. Source: arstechnica
Anthropic, led by Dario Amodei, filed paperwork with the Securities and Exchange Commission in June, placing it in a quiet period that limits public financial announcements. The startup has gained ground on rivals OpenAI and Google this year, releasing models that outperformed competitors while focusing on business customers. The company announced in May that its annualized revenue had surpassed $47 billion. Venture capitalists, sovereign wealth funds, and other institutional investors have poured just under $100 billion into the company in 2026. Source: arstechnica
